The broker continues to build its niche offering with this latest acquisition
PIB Group has bought Leeds-based specialist transport broker Rigton Insurance Services, continuing the firm’s acquisition strategy around niche products and brokerages.
Rigton Insurance Services, which has Corporate Chartered Insurance Broker status, specialises in niche products tailored for the transport industry, such as bus and coach insurance, schemes within classic preserved bus, heritage, narrow gauge railway and model retailers and manufacturers.
The broker’s existing team will remain with the business following the acquisition; previous owners Roland and Margaret Wilcox will provide additional support on a consultancy basis.
Rigton Insurance Services was formed in 1974.
Brendan McManus, chief executive at PIB Group, said: “I’d like to extend a very warm welcome to everyone at Rigton Insurance Services. This is another exciting acquisition which further broadens our niche offering across PIB Group.
“Roland and Margaret have built a strong business with year-on-year growth, which is testament to the teams’ experience and expertise in the market and of their specific products, as well as excellent customer care.
“Through PIB’s investment and support, I look forward to enabling further growth and new opportunities for everyone at Rigton.”
Roland Wilcox added: “We are delighted to become part of the PIB Group organisation. Their management has demonstrated their passion to move forward by acquisition and growth within niche areas of business and we feel Rigton will develop very well within their well thought out and planned strategy for the future.
“We are very impressed with the professionalism and friendliness of the PIB team and look forward to working with them in the future”.
Last month, PIB Group purchased specialist residential and commercial property owners insurance broker UKinsuranceNET, marking its 30th acquisition to date. This followed PIB Group’s first foray into international waters with the purchase of Marx Re, a brokerage based in Germany, in June.